Seven
What does' burned' here mean? One good place to look is where there are few other players. The RTC, Resolution Trust Corp, was a great example of a chance to make a lot of money with relatively few competing players. Here was a seller (the government) with hundreds of billions of dollars of real estate and no money in the game, who wanted to wrap it up quickly, while many buyers had no money and had been burned
Nov 9, 2018 4:52 AM
Answers · 5
Being burned is when you have a bad experience, and that bad experience colours your judgement, and makes you wary to make a similar judgement again. Those buyers had presumably bought something similar previously, and lost money on the deal.
November 9, 2018
lack of money creates a painful sense in human being.
November 9, 2018
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Seven
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